The World Diamond Council (WDC), an industry group focused on removing conflict diamonds from the global supply chain and protecting the value of natural diamonds, announced on Wednesday that current president Andrey Polyakov will be resigning by the end of the week. Current WDC Vice President Stephane Fischler will become acting President effective July 1.

Fischler will serve in this capacity until the end of the term of the organisation’s current board, at which time he will start his two year term as president. Polyakov became president of the WDC in May 2016 after serving as Vice President for the organisation the year prior.

“It has been an honour to serve as President of the WDC and to be a part of an organisation tasked with such an important mission for our industry,” Polyakov said, adding, “We have achieved much together, but assuring that the diamond supply chain remains virtually free of conflict diamonds will take vigilance and an ongoing commitment to education and training for the next generation of industry stewards.”

Acting WDC President Fischler commented, “We owe a debt of gratitude to Andrey for his leadership and I, along with the rest of the members, look forward to continuing the good work he began with us.”

The WDC was formed in 2000 and is the only organisation where the diamond trade is represented in full, from producer to retailer, and includes the most influential commercial businesses, not-for-profit organisations, and individual companies in the industry today. It is the voice of the international diamond industry in the Kimberley Process (KP).